NasdaqGS:TBBKBanks
Bancorp (TBBK): Evaluating Valuation After $200 Million Senior Notes Offering and Debt Restructuring
Bancorp (TBBK) just wrapped up a $200 million senior notes offering, which is grabbing investors’ attention for good reason. The new 7.375% notes are set to replace older, higher-cost debt, and management plans to use part of the proceeds for a share repurchase program as well as general corporate needs. Moves like this shift the company’s debt profile and capital allocation strategy, so it is not surprising that market watchers are now re-evaluating Bancorp’s growth prospects and risk-reward...